Saturday, July 18, 2009

To me, elected Obama acts very different from the promises of candidate Obama. Personally, I'm not surprised, because I didn't believe candidate Obama since his historical actions didn't support his promises. However, some who believed in candidate Obama's promises may be disappointed now. Although probably not complete, here is my list of candidate Obama's comments (bait) and subsequent actions (switch).

Comparison of Candidate to Elected Obama

Category

Comments as candidate

Action after elected

Attitude

Hope and inspiration

Slow and painful economic recovery

Legislation

Bipartisan

Partisan

Taxes on health insurance

No taxing of health insurance premiums

Open to tax on employer paid health insurance premiums

Budget

Eliminating earmarks (about $17 billion) will not have an impact on the budget

Asks for $100 million in cost savings for the 2009 budget

Pork

Would eliminate pork in bills passed by Congress

Approved a $787 billion stimulus package with a significant amount of pork

So far, the only promise President Obama seems to have kept is his payback to unions, as demonstrated by the bankruptcy proceedings and outcomes of GM and Chrysler, which put union priorities over legitimate bondholder claims.

Even after being elected, I continue to see bait and switch tactics from the Obama administration. To pass the $787 billion stimulus package, President Obama urged quick passage since the impact would be seen right away. Now, the story is that the stimulus will take up to two years to have an impact. If so, for Congress to spend a month to create a better economic stimulus package?

President Obama again urged quick action on the health care bill, because of the necessity to have an impact immediately. (Bait) However, in six months, I won't be surprised when Mr. Obama switches and says that it may take another term, and maybe two to three more :-), as President before any health care bill shows any effect. (Switch)

For more on Reflections and Musings, check back every Saturday for a new segment.

This is not financial or policy advice. Please consult a professional advisor.

5 comments:

Dir Sir,I regret to say that I will no longer be subscribing to your blog. What was once a practical and insightful journal of financial prudence, has become [at least in some posts] a highly opinionated blog, big on politics, and small on substance.

I know I won't agree with all posts. But I'm sure I'll learn something.

I'm not into politic. I never voted before Obama ran for the WH. He INSPIRED me to vote for the other guy (I forgot his name - the one that didn't promise to take people's earning to "spread the wealth").

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Disclaimer:
This is a personal blog about my thoughts, experiences and ideas on building wealth. The contents of this blog are for informational purposes only. No content should be construed as financial advice. Commenters, advertisers and linked sites are entirely responsible for their own content and do not represent the views of My Wealth Builder. All financial decisions involve risks and results are not guaranteed. Always do your own research, due diligence and consult your own professional advisor before making any decision. My Wealth Builder assumes no liability with regard to financial results
based on use of information from this blog.

If this blog contains any errors, misrepresentations, or omissions, please contact me or leave a comment to have the content corrected.